ckn

ckn

The chart of the DXY shows the following: a. Hammer pattern at the end of a decline. b. Price drop into a 1.272 extension of prior contra trend. c. Pivot formation at the median line. d. Divergence in Rsi. These indicate a possible bottoming of the index for the moment. Currently, the newsflow for the Dollar seems to be quite adverse. China easing off, Germany...

ckn

The 30 minute chart shows a good bottom formation against the down sloping pitchfork. The prices are still contained by the sliding parallel line and hence the trend is still deemed to be down. What is more important is that the RSI is forming a negative reversal pattern which suggests that the trend may still be down. The caveat for this view is a strong...

ckn

The bulls in the Euro currently have the upper hand, although the advantage is slight as yet. The support trendline is shown at an angle of 16 degrees which is a 1x2 angle line for this chart derived from the slopes that the instrument is currently trading at. I have drawn another arrow trendline defining a stoploss for any long positions or bullish views on the...

ckn

DX has shown profit taking decline in recent weeks. In the RSI, I am seeing a possible range shift signal developing as this rally is unable to move past 60 levels. On the DMI, I find that the Adx line has risen to above 60 and now peeling off. The DI lines are positively phased yet but a crossover now could activate a signal for the contra trade as well. The...

ckn

Continued positive news flow and events have seen the Dollar strengthening over past few months and the DX has now closed above 90 for the first time in several years. There seems to be a very high degree of consensus among analysts about continued strengthening of the Dollar. However the prices have now reached the top channel of the pitchfork on the weekly...

ckn

Have annotated the current decline in CL1 with Gann angles and arcs. Usually, the first good support during a drop is often seen at the third double arc and this is found to be the case in Crude chart. Hence expect this low near $53-54 to hold for some time. Following a bounce at the third arc, prices generally show a tendency to move back towards the 1x1 angle...